“I made a major purchase of a new car in 2016. Can I file the taxes on that purchase without itemizing my return. I usually file with TurboTax Basic, Is this the right filing to use.”
Answer This Question
1-4 of 4 Answers
TurboTax Basic provides a "Standard Deduction" based on income. If you wish to itemize separate deductions (e.g., sales taxes for major purchases), you will need to upgrade to at least TurboTax Deluxe. Since you have been filing with Basic in the past, you apparently do not have any other major deductions such as mortgages, medical bills etc. You could try Deluxe to see if your auto purchase sales tax is more advantages than the standard deduction, but I doubt it.
Sorry, there was a problem. Please try again later.Turbo tax basic will work for you related to sales tax on a car. As I understand it, you must itemize on schedule A to deduct the tax. The good news is, you can enter it in Turbo tax along with any other deductions and the program will tell u if u have enough deductions to itemize or if you should use the standard deduction.
Sorry, there was a problem. Please try again later.No to claim the taxes you will have to itemize all your deductions. Add up your allowable deductions and if they exceed the standard deduction you will need to get a TurboTax program that has a schedule "A", if they do not exceed the standard deduction, using the standard will give you the lowest Tax liability.
Sorry, there was a problem. Please try again later.NO
Sorry, there was a problem. Please try again later.